Quarterly Financial Information (Tables)

7 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Summary of Condensed Balance Sheet Statements

The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported balance sheet as of September 30, 2020:


	As of September 30, 2020
	As Reported As Previously Restated in 10-K/A Amendment No. 1			Adjustment			As Restated
Total assets	$	346,437,009					$	346,437,009

Total liabilities	$	33,910,137					$	33,910,137

Class A ordinary shares subject to possible redemption		307,526,870			37,473,130			345,000,000
Preferred shares		—			—			—
Class A ordinary shares		375			(375	)		—
Class B ordinary shares		863			—			863
Additional paid-in capital		9,704,899			(9,704,899	)		—
Accumulated deficit		(4,706,135	)		(27,767,856	)		(32,473,991	)

Total shareholders’ equity (deficit)	$	5,000,002		$	(37,473,130	)	$	(32,473,128	)

Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders’ Deficit	$	346,437,009		$	—		$	346,437,009

Summary of Condensed Cash Flow Statement

The table below presents the effect of the financial statement adjustments related to the restatement discussed above of the Company’s previously reported statement of cash flows for the period from June 4, 2020 (inception) through June 30, 2021:


	Period From June 4, 2020 (Inception) Through September 30, 2020
	As Reported As Previously Restated in 10-K/A Amendment No. 1			Adjustment			As Restated
Value of Class A ordinary shares subject to possible redemption	$	311,506,440		$	(311,506,440	)	$	—
Change in value of Class A ordinary shares subject to possible redemption	$	(3,979,570	)	$	3,979,570		$	—

Summary of Earnings Per Share, Basic and Diluted

The impact to the reported amounts of weighted average shares outstanding and basic and diluted earnings per share is presented below for the affected interim periods:


	Earnings Per Share
	As Reported As Previously Restated in 10-K/A Amendment No. 1			Adjustment			As Restated
For the period From June 4, 2020 (Inception) Through September 30, 2020
Net loss	$	(4,706,135	)	$	—		$	(4,706,135	)
Weighted average shares outstanding—Class A ordinary shares		34,500,000			(16,936,364	)		17,563,636
Basic and diluted loss per share—Class A ordinary shares	$	—		$	(0.18	)	$	(0.18	)
Weighted average shares outstanding—Class B ordinary shares		8,072,727			—			8,072,727
Basic and diluted loss per share—Class B ordinary shares	$	(0.59	)	$	0.41		$	(0.18	)


	Earnings Per Share
	As Reported As Previously Restated in 10-K/A Amendment No. 1			Adjustment			As Restated
Three months ended September 30, 2020
Net loss	$	(4,692,306	)	$	—		$	(4,692,306	)
Weighted average shares outstanding—Class A ordinary shares		34,500,000			(13,500,000	)		21,000,000
Basic and diluted loss per share—Class A ordinary shares	$	—		$	(0.16	)	$	(0.16	)
Weighted average shares outstanding—Class B ordinary shares		8,184,783			—			8,184,783
Basic and diluted loss per share—Class B ordinary shares	$	(0.58	)	$	0.42		$	(0.16	)

Yucaipa Acquisition Corp 10-K/A